Okoro Ifeanyi, 56, previously pleaded guilty before U.S. District Judge Stanley R. Chesler to a two-count information charging him with filing false tax returns with respect to his 2010 through 2013 personal tax returns and with structuring financial transactions in 2007 and 2008 to avoid reporting requirements. Judge Chesler imposed the sentence today in Newark federal court.

According to the documents filed in this case and statements made in court:

Ifeanyi was the owner and operator of Amiri Mbubu Auto Sales. His primary business was buying used cars in and around New Jersey, often at auto auctions, and exporting the cars to Nigeria.

Ifeanyi admitted to substantially underreporting his income on his 2010, 2011, 2012, and 2013 U.S. individual income tax returns, specifically, failing to report additional taxable income that he earned through his business. According to the information, by failing to report his true income, Ifeanyi avoided paying approximately $461,085 in taxes.

Ifeanyi also admitted to structuring a series of transactions in 2007 and 2008. He made 17 different deposits into his Bank of America account, each less than $10,000, in order to avoid currency reporting requirements.

In addition to the prison term, Judge Chesler sentenced Ifeanyi to three years of supervised release.

U.S. Attorney Carpenito credited special agents of the FBI, under the direction of Acting Special Agent in Charge Bradley W. Cohen in Newark, and special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge Jonathan D. Larsen, with the investigation leading to today’s sentencing.

The government is represented by Assistant U.S. Attorney Justin S. Herring of the U.S. Attorney's Office Economic Crimes Unit in Newark.